3rd December 2014
The Isa limit will increase to £15,240 from £15,000 from next April roughly keeping pace with inflation.
There was no mention made of a total cap on Isa investments in the Autumn Statement, which some industry experts had feared could be introduced.
Adrian Lowcock, head of investing, AXA Self Investor says: “We welcome the Chancellor’s latest changes to the ISA rules in the UK announced today.
“ISAs remain the first port of call for many investors and the ability to pass the ISA wrapper to your spouse when you die coupled with the increased allowance of £15,240 makes the ISA wrapper even more appealing to households.
“Combined with the changes to pension rules this gives savers greater choice in the way they use their ISA and pension pots to plan for the future. These are positive steps and we welcome the additional flexibility the new rules will bring in April.”